MUR (Mauritius Rupee)

DEFINITION of 'MUR (Mauritius Rupee)'

The currency abbreviation for the Mauritius rupee (MUR), the currency for Mauritius. The Mauritius rupee is made up of 100 cents and is often presented with the symbol Rs or Rp.

BREAKING DOWN 'MUR (Mauritius Rupee)'

First established in 1877, the Mauritius rupee replaced the Indian rupee, which had taken hold due to an influx of Indian immigrants to the country. Other currencies in circulation at the time were the British pound and the Mauritian dollar. Initially, the Mauritius rupee was pegged to the Indian rupee at par, but from 1934 to 1979, it was pegged to the British pound, at a rate of 13.3:1.